TheStreet cut shares of Culp (NYSE:CULP – Get a Note) from a c- rating to an advertising rating in a research report released Thursday, reports TheStreetRatingsTable.
Separately, StockNews.com downgraded Culp shares from a hold rating to a sell rating in a research rating on Friday.
Shares of CULP opened at $4.24 on Thursday. The company’s 50-day simple moving average is $5.59 and its 200-day simple moving average is $7.44. The company has a market capitalization of $51.80 million, a P/E ratio of 12.11, a P/E/G ratio of 1.24 and a beta of 1.13. Culp has a 1-year low of $4.21 and a 1-year high of $16.40.
Hedge funds and other institutional investors have recently changed their stakes in the company. Engineers Gate Manager LP bought a new position in Culp during the first quarter worth approximately $112,000. American Century Companies Inc. increased its position in Culp by 26.5% during the fourth quarter. American Century Companies Inc. now owns 30,979 shares of the textile maker valued at $295,000 after acquiring 6,481 additional shares in the last quarter. State Street Corp increased its position in Culp by 5.2% in the first quarter. State Street Corp now owns 41,621 shares of the textile maker valued at $330,000 after acquiring 2,071 additional shares in the last quarter. Geode Capital Management LLC increased its holdings of Culp stock by 1.4% in the third quarter. Geode Capital Management LLC now owns 78,525 shares of the textile maker worth $1,011,000 after buying an additional 1,064 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Culp stock in the fourth quarter worth about $781,000. Institutional investors and hedge funds own 79.72% of the company’s shares.
About Culp (Get a rating)
Culp, Inc manufactures, sources, markets and sells mattress fabrics, sewn covers and cut and sew kits for use in mattresses, box springs and other bedding products in North America, Far East, Asia and the world. It operates in two segments, mattress fabrics and upholstery fabrics. The Mattress Fabrics segment offers jacquard woven, knitted and converted fabrics for use in the production of bedding products, including mattresses, box springs, box springs and bedspread components.
Get news and reviews for Culp Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Culp and related companies with MarketBeat.com’s FREE daily newsletter.